Almendarez Corporation is considering the purchase of a machine that would cost $210,000 and would last for 8 years. At the end of 8 years, the machine would have a salvage value of $20,000. By reducing labor and other operating costs, the machine would provide annual cost savings of $34,000. The company requires a minimum pretax return of 8% on all investment projects. (Ignore income taxes.)

The net present value of the proposed project is closest to: (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

Multiple Choice

$(3,802)

$12,722

$(62,000)

$(19,149)